2017 ORS
743.374¹

Limits on amount of credit life insurance

(1) The initial amount of credit life insurance shall not exceed the total amount repayable under the contract of indebtedness and, where an indebtedness is repayable in substantially equal installments, the amount of insurance shall at no time exceed the scheduled or actual amount of unpaid indebtedness, whichever is greater.

(2) Notwithstanding the provisions of subsection (1) of this section, insurance on agricultural credit transaction commitments not exceeding 18 months in duration may be written up to the amount of the loan commitment, on a nondecreasing or level term plan.

(3) Notwithstanding the provisions of subsection (1) of this section, insurance on educational credit transaction commitments may include the portion of such commitment that has not been advanced by the creditor. [Formerly 743.570]

2 OregonLaws.org contains the con­tents of Volume 21 of the ORS,
inserted along­side the per­tin­ent statutes.
See the preface to the ORS An­no­ta­tions for more information.

3 OregonLaws.org assembles these lists by analyzing references between Sections. Each
listed item refers back to the current Section in its own text. The result reveals
relationships in the code that may not have otherwise been apparent.

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